Yesterday the euro moved upwardly due to a surprising drop in the ISM Manufacturing, which fell just below the 50 level, indicating that there is a contraction in the sector. As a result, the U.S. dollar depreciated against all crosses. However, this morning at the American session the euro was trading below 1.31 level. Yesterday the pair found strong resistance, we can look to the euro as an opportunity to sell this pair. It is true that it has been progressively strengthened lately, but it does not give much security that it may stay above 1.31 for a long time, so we recommend selling below this level. If a pullback towards 1.3150 fractal area is observed it would be one good opportunity to sell with objectives to the psychological level of 1.30 and below to the nearest fractal of 1.2877.
If you need personal consultation, Skype: gerardofx or contact me via e-mail: gerardo.porras@analytics.instaforex.com
